SALES OPERATIONS

Sales operations is a set of business activities and processes that help a sales organization
run effectively, efficiently and in support of business strategies and objectives. Sales
operations may also be referred to as sales, sales support, or business operations.

A good sales operations manager should be familiar with lead generation, sales forecasting,
pipeline management, and CRM data analysis. In addition to troubleshooting day-to-day
issues, an efficient sales operations manager must have experience in leading individuals to
work as an effective team
MARKETING OPERATION
Marketing operations is the function of overseeing an organization's marketing program,
campaign planning and annual strategic planning activities. Other responsibilities include
technology and performance measurement and reporting and data analytics.

Marketing Operations increases efficiency and drives results in marketing organizations. It

builds a foundation for excellence by reinforcing marketing strategy with metrics,
infrastructure, business processes, best practices, budgeting and reporting.
Project Management
Project management is the process of steering a project from the start through its lifecycle.
The main objective of project management is to complete a project within the established
goals of time, budget, and quality. Projects have life cycles since they aren’t intended to last
forever.

Project management involves the planning and organization of a company's resources to

move a specific task, event, or duty towards completion. It can involve a one-time project or
an ongoing activity, and resources managed include personnel, finances, technology, and
intellectual property.
No matter what the industry is, the project manager tends to have roughly the same job: to
help define the goals and objectives of the project and determine when the various project
components are to be completed and by whom. They also create quality control checks to
ensure completed components meet a certain standard.

KEY TAKEAWAYS
• On a very basic level, project management includes the planning, initiation,
execution, monitoring, and closing of a project.
• Many different types of project management methodologies and techniques exist,
including traditional, waterfall, agile, and lean.
• Project management is used across industries and is an important part of the success
of construction, engineering, and IT companies.
• A project management life cycle starts when the project is initiated and ends when
the project is either completed or terminated in one way or another.
• At the end of each phase, there is a decision point where stakeholders decide
whether or not to complete the project or terminate it and cut losses.
Understanding Project Management

Generally speaking, the project management process includes the following stages:
planning, initiation, execution, monitoring, and closing.

From start to finish, every project needs a plan that outlines how things will get off the
ground, how they will be built, and how they will finish. For example, in architecture, the
plan starts with an idea, progresses to drawings, and moves on to blueprint drafting, with
thousands of little pieces coming together between each step. The architect is just one
person providing one piece of the puzzle. The project manager puts it all together.

Every project usually has a budget and a time frame. Project management keeps everything
moving smoothly, on time, and on budget. That means when the planned time frame is
coming to an end, the project manager may keep all the team members working on the
project to finish on schedule.

Types of Project Management

Many types of project management have been developed to meet the specific needs of
certain industries or types of projects. They include the following:

1. Waterfall Project Management

This is similar to traditional project management but includes the caveat that each task
needs to be completed before the next one starts. Steps are linear and progress flows in one
direction—like a waterfall. Because of this, attention to task sequences and timelines are
very important in this type of project management. Often, the size of the team working on
the project will grow as smaller tasks are completed and larger tasks begin.

2. Agile Project Management

The computer software industry was one of the first to use this methodology. With the basis
originating in the 12 core principles of the Agile Manifesto, agile project management is an
iterative process focused on the continuous monitoring and improvement of deliverables.
At its core, high-quality deliverables are a result of providing customer value, team
interactions, and adapting to current business circumstances.

Agile project management does not follow a sequential stage-by-stage approach. Instead,
phases of the project are completed in parallel to each other by various team members in
an organization. This approach can find and rectify errors without having to restart the
entire procedure.

3. Lean Project Management

This methodology is all about avoiding waste, both of time and of resources. The principles
of this methodology were gleaned from Japanese manufacturing practices. The main idea
behind them is to create more value for customers with fewer resources.
There are many more methodologies and types of project management than listed here, but
these are some of the most common. The type used depends on the preference of the
project manager or the company whose project is being managed.

Example of Project Management

Let's say a project manager is tasked with leading a team to develop software products.
They begin by identifying the scope of the project. They then assign tasks to the project
team, which can include developers, engineers, technical writers, and quality assurance
specialists. The project manager creates a schedule and sets deadlines.

Often, a project manager will use visual representations of workflow, such as Gantt charts
or PERT charts, to determine which tasks are to be completed by which departments. They
set a budget that includes sufficient funds to keep the project within budget even in the face
of unexpected contingencies. The project manager also makes sure the team has the
resources it needs to build, test, and deploy a software product.

When a large IT company, such as Cisco Systems Inc., acquires smaller companies, a key part
of the project manager's job is to integrate project team members from various
backgrounds and instill a sense of group purpose about meeting the end goal. Project
managers may have some technical know-how but also have the important task of taking
high-level corporate visions and delivering tangible results on time and within budget.

Project management can bring the following advantages to the table:

• Effective communication
• Efficient resource management
• Improved customer satisfaction
• Flexibility and higher risk tolerance
• Improved team morale
• Better quality of the output
• Retrospective learning

Project Management Phase

1. Initiation

The project initiation phase marks the beginning of a project by determining high-level
expectations like why a project is required, if it is feasible or not, and what is needed to
complete the project.
Outputs of this phase include required stakeholder approvals to proceed to the next phase,
documentation pertaining to project needs (business case), and rough estimates of time and
resources required to complete the project (project charter), and an initial list of
stakeholders.

2. Planning

In the planning phase, project managers detail the project scope, time frame, and risks.
Completeness and continuity are the major components of a successful project plan.

Outputs of this phase include a detailed project plan, a project communication plan (if there
is no project plan), budget baseline, project scheduling, individual project goals, scope
document, and updated stakeholder registry.

3. Execution

In the project execution phase, the project team members are coordinated and guided
through proper project communication to get the work done as explained in the approved
project management plan.

Additionally, this phase also covers the proper allocation and management of other project
resources like materials and budgets. Project deliverables are the output of the execution
phase.

4. Monitoring and Control

During the project monitoring and controlling phase, the time, cost, and performance of the
project are compared at every stage and necessary adjustments are made to the project
activities, resources, and plan to keep things on the right track.

Outputs from this phase include project progress reports and other communications that
ensure adherence to project plans and prevent larger milestones and deadline disruptions.

5. Closure or Completion

The process of finalizing the project, reviewing the project deliverables, and transitioning
them to the business leaders is called the project closure phase in a project management
life cycle.

This stage offers time for both celebration and reflection. Outputs from this project
management phase include approved project results and learnings that can be applied to
similar projects in the future.

What is Digital Transformation?

Digital transformation is the integration of digital tech into the business functions of an
organization. It leverages the accuracy, accountability, and precision of digital technology to
improve business systems and foster efficiency and operational agility throughout an
organization.

A successful digital transformation strategy is an important characteristic and helps foster a

synergistic environment that focuses on successful outcomes and projects, efficient
business processes, and seamless interaction among team members.

Digital transformation helps make communication more streamlined and improves

collaboration among team members and the chain. At the same time, it shifts the focus
from business processes to measurable results.

Delivery Management

Delivery management is the function of applying processes to ensure goods are effectively
and efficiently transferred from one location to the next. Sometimes called dispatch or fleet
management, it answers the question, “How do we get this item from point A to point B?”

Financial Management Practices

The term “financial practices” refers to the set of common methods or standard operating
procedures you develop for carrying out accounting, financial reporting, budgeting and
other activities related to business finances. Each one serves to support business policies,
establish accountability and provide step-by-step instructions for completing a task or
activity. It’s important to understand that while SOPs are a component in a sound financial
management program, it’s the information an SOP contains rather than the SOP itself that
determines whether the financial practices outlined are successful in producing a desired
result.
Financial Management is the deliberate management of planning and organizing of financial
activities. It applies the basic management principle to control the flow of funds and
properly utilizes financial resources. It sets the financial goals by properly analyzing the
available data. The common methods to carry out financial activities like accounting and
budgeting are considered to be the financial management practice. Financial management
practices is the discipline dealing with the financial decisions for long and short-term goals
to ensure the return on capital exceeds the cost without taking an excessive financial risk. It
clarifies the efficient financial management practices and is used in the business to respond
to another business environment. It also entails practices across the other organizations to
provide an evaluating approach to financial management. It has some impact on the
organizational performance because of the relationship between them. Effective
management leads to the successful growth of an organization.

Supply Chain Integration

Supply chain integration is the cooperation of buyers and sellers, with the goal that all
parties benefit from the relationship. The resulting supply chain partnerships result in
improved quality, improved delivery, and an improved bottom line for everyone involved in
the supply chain—and in addition, the final customers get better quality, reliable on-time
delivery, and more responsive service.

Elements of Supply Chain Integration

There are four key components to a successful implementation of supply chain integration.
These are known as the Four C's of Supply Chain Integration.

Communication
As mentioned, communication is key. Everyone involved in the supply chain needs to be
well informed, allowing them to quickly adjust their operations to meet changes in demand
and new business opportunities. This is often done using integrated computer systems, but
direct channels of communication between key people should also be in place.

Customers
The focus should always be on the final customer's needs, and what the customer values
and is willing to pay for. This requires the lead organization to have a close relationship with
their customers.

The lead organization must make others in the supply chain aware of the final customer's
needs, and how their part of the supply chain impacts the ability to meet those needs.
Everything must be focused on the final customer's needs; ultimately, they are the ones
paying the bills for everyone else in the supply chain.

Collaboration
To be effective, supply chain integration requires good relationships among all the members
of the supply chain. This is called collaboration. Each participant in the supply chain should
be interested in developing their suppliers, including providing training to improve their
product knowledge and understanding of the markets being served. They may even become
involved in joint product development projects. Supply chain integration is a collaborative
partnership.

Cooperation
The sharing of supply and demand information is critical for the success. This may include
information that is usually considered proprietary. However, without close cooperation, the
members of the supply chain will not have the information they need to be responsive to
customer needs.

Benefits of Supply Chain Integration

There are a number of benefits that result from effective supply chain integration.

Flexibility
An integrated supply chain results in improved ability to respond to rapid changes in the
market. This is backed by a shared interest, throughout the supply chain, in getting things
right the first time.

Improved Inventory Management

There will be fewer overstocked and understocked items. Overall you'll have smaller
inventories, reducing storage costs and allowing quicker replacement of obsolete items. This
is the result of n improved ability to match inventory levels with customer demand.

In addition to reduced costs associated with inventory, costs for quality control and
inspections, administrative activities, and purchasing will all go down. Transportation costs
will even be reduced, due to optimization of loads and better forecasting.

Improved Suppliers
You'll have fewer and better suppliers. You'll have more confidence in the quality provided
by those suppliers, and in their ability to deliver orders on time.

Risk Management Strategies

Risk management encompasses the identification, analysis, and response to risk factors that
form part of the life of a business. Effective risk management means attempting to control,
as much as possible, future outcomes by acting proactively rather than reactively.
Therefore, effective risk management offers the potential to reduce both the possibility of a
risk occurring and its potential impact.
Risk management is an important process because it empowers a business with the
necessary tools so that it can adequately identify and deal with potential risks. Once a risk
has been identified, it is then easy to mitigate it. In addition, risk management provides a
business with a basis upon which it can undertake sound decision-making.

For a business, assessment and management of risks is the best way to prepare for
eventualities that may come in the way of progress and growth. When a business evaluates
its plan for handling potential threats and then develops structures to address them, it
improves its odds of becoming a successful entity.

Response to risks usually takes one of the following forms:

Avoidance: A business strives to eliminate a particular risk by getting rid of its cause.

Mitigation: Decreasing the projected financial value associated with a risk by lowering the
possibility of the occurrence of the risk.

Acceptance: In some cases, a business may be forced to accept a risk. This option is possible
if a business entity develops contingencies to mitigate the impact of the risk, should it occur.
COST FORECASTING

Managing the costs of a project requires careful planning to avoid shortfalls that can
adversely affect payment schedules and damage stakeholder reputation. Cost forecasting is
a useful exercise in determining required expenditures at the various payment stages of a
project. Efficient management of project income is crucial in making timely payments to the
various stakeholders involved in the project.

An important aspect of cost forecasting is to understand the payment system for the project
based on the contractual provisions, and accordingly retrieve information from the project
schedule that will help map out the funds required during the course of the project. Spire’s
experienced construction cost consultants can assist clients in developing cost forecasts that
are integrated with the project schedule.

International Business Operations

International Business consists of all transactions—including sales, investments, commercial
and transportation- -that take place between two or more countries.
It involves the trade between one country and another or trade amongst nations. It can be
private or governmental in nature or take the form of bilateral and multilateral trade
agreements.
In international business, items of trade consist of goods, services, Laboure and technology.
There are no geographical boundaries to the flow of trade.
International businesses can improve a company’s performance by increasing profits and
reducing costs. Both of the results generate greater profits for the company. There are
several objectives of international business, each of which allows a company to improve its
performance.
Why should we study international business?
It comprises a large and growing portion of the world's total business. Today, almost all
companies - large or small – are affected by global events and competition.

Why companies engage in international business?

• To expand their sales

• To acquire resources: Capital, Technology, Information
• To diversify their sources of sales and supplies
• To minimize competitive risk
Factors Influencing International Business
• The cultural environments
• The political and legal environments
• The economic environment
 • The geographical advantages
Modes of International Business
• Export - import trade
• Direct Foreign Investment
- Wholly owned subsidiaries
- Joint venture
- Mixed venture
- Portfolio Investment
• Licensing / Franchising
• Strategic Alliance
• Turnkey Operations
• Management contracts

Types of International Organization

International - Either a global or multidomestic company

Multinational - An organization with multi-country affiliates, each of which formulates its
own business strategy based on perceived market differences. EX. Coca-Cola
Transnational - It comprises parent enterprises and their foreign affiliates: a parent
enterprise is defined as one that controls assets of another entity or entities in a country or
countries other than its home country, usually by owning a capital stake
Unilever Shell Pharmacia & Upjohn,
Global - An organization attempts to standardize and integrate operations worldwide in all
functional areas. Ex. Nestlé

Globalization:
Globalization is the ongoing social, economic, and political process that deepens and
broadens the relationships and inter- dependencies amongst nations- -their people, their
firms, their organizations, and their governments.
Globalization is the widening set of interdependent relationships among people from
different parts of a world divided into nations
The term sometimes refers to the elimination of barriers to international movement of
goods, services, capital, technology, and people that influence the integration of world
economies
International business facilitates the globalization process.
The Forces Behind Globalization
• Increased expansion and technological improvements in transportation and
communications networks
• Liberalization of cross-border trade and resource movements
• Development of services that support international business activities
• Growing consumer demand for foreign products
• Increased global competition
• Changing political and economic situations
• Expanded cross-national treaties and agreements
Legal Environment for Global Business

The international business environment is very complex. Businesses must be conscious of

public international laws consisting of treaties, conventions, protocols, and executive
agreements. Private international laws involve some treaties and conventions, but most are
based upon the agreements between the parties.
The legal environment includes the laws passed by the government as well as the decisions
rendered by the various commissions and agencies at every level of the government. It's
important that every business must function according to the law of the area in which it
wishes to operate
The legal environment includes various laws and regulations enacted, amended or repealed
by the government, policies relating to licensing and approvals, policies related to foreign
trade, strategies adopted by the government to improve the business ecosystem are the
examples of legal environments.

International Financial Management

International finance, sometimes known as international macroeconomics, is the study of
monetary interactions between two or more countries, focusing on areas such as foreign
direct investment and currency exchange rates.

International financial management, also known as international finance, is the

management of finance in an international business environment; that is, trading and
making money through the exchange of foreign currency. The international financial
activities help the organizations to connect with international dealings with overseas
business partners- customers, suppliers, lenders etc. It is also used by government
organization and non-profit institutions.

International finance deals with the economic interactions between multiple countries,
rather than narrowly focusing on individual markets. International finance research is
conducted by large institutions

KEY TAKEAWAYS

• International finance is the study of monetary interactions that transpire between

two or more countries.
• International finance focuses on areas such as foreign direct investment and
currency exchange rates.
• Increased globalization has magnified the importance of international finance.
• An initiative known as the Bretton Woods system emerged from a 1944 conference
attended by 40 nations and aims to standardize international monetary exchanges
and policies in a broader effort to nurture post World War II economic stability
Components of International Financial Environment

• Foreign Exchange Market. ...

• Currency Convertibility. ...
• International Monetary System. ...
• International Financial Markets. ...
• Balance of Payments.

International Trade-Blocks and Agreements

A trading bloc is a type of intergovernmental agreement, often part of a regional

intergovernmental organization, where regional barriers to international trade, (tariffs and
non-tariff barriers) are reduced or eliminated among the participating states, allowing them
to trade with each other as easily as possible.
A trading bloc is a type of intergovernmental agreement, often part of a regional
intergovernmental organization, where regional barriers to international trade, (tariffs and
non-tariff barriers) are reduced or eliminated among the participating states, allowing them
to trade with each other as easily as possible.

The idea is that member countries freely trade with each other, but establish barriers to
trade with non-members, which has had a significant impact on the pattern of global trade.

International trade agreements can open up new opportunities for exporters. They can also
ensure access to competitively priced imports from other countries.

Business Communication in the Global Context

Business communication is the process of sharing information between employees within

and outside a company. The way people communicate and operate within a business is very
vital to the company’s success in the business world.

Business communication is the process of sharing information between people within and
outside a company.
Effective business communication is how employees and management interact to reach
organizational goals. Its purpose is to improve organizational practices and reduce errors

The importance of business communication also lies in:

• Presenting options/new business ideas

• Making plans and proposals (business writing)
• Executing decisions
• Reaching agreements
• Sending and fulfilling orders
 • Successful selling
• Effective meetings

Types of Business Communication

Internal business communication can be:

• Upward communication: any communication that comes from a subordinate to a

manager. Or from another person up the organizational hierarchy.
• Downward communication/Managerial communication: anything that comes from a
superior to a subordinate.
• Lateral communication/Technical communication: internal or cross-departmental
communication between coworkers

External business communication

External business is any messaging that leaves your office and internal staff. It involves
dealing with customers, vendors, or anything that impacts your brand.
You can sort all communication in this spectrum into four types of business communication.

International Corporate Governance

Corporate governance is the set of processes, customs, policies, laws, and institutions
affecting the way a corporation (or company) is directed, administered or controlled.
Corporate governance also includes the relationships among the many stakeholders
involved and the goals for which the corporation is governed. In contemporary business
corporations, the main external stakeholder groups are shareholders, debt holders, trade
creditors, suppliers, customers and communities affected by the corporation’s activities.
Internal stakeholders are the board of directors, executives, and other employees.

Corporate governance is a process that aims to allocate corporate resources in a manner

that maximizes value for all stakeholders – shareholders, investors, employees, customers,
suppliers, environment and the community at large and holds those at the helms to account
by evaluating their decisions on transparency, ...

Managing Risk in Global Business

Running a business comes with many types of risk. Some of these potential hazards can
destroy a business, while others can cause serious damage that is costly and time-
consuming to repair. Despite the risks implicit in doing business, CEOs and risk management
officers can anticipate and prepare, regardless of the size of their business
What is Risk in International Business and its Classifications

Risk in international business is quiet a broad idea. The basic definition could be the
possibility of loss due to any unfavorable event in business operation. The term risk is also
including any unfavorable happening at the business (Jindal, 2019) Few widely spoken risk
names and descriptions are given below: Political Risk: Political risk in international
business often happens due to un-stabilized political situation and events. An
international firm can not operate business in its full swing if there are political instability,
top government official’s instability and so on. Moreover, any political turbulence can
hamper company’s profits. Exchange Risk: The exchange risk describes changing values of
investment due to changing values of two different currencies. It also known as FX risk,
currency risk (Investopedia, 2019). Credit Risk: when borrower fails to repay a loan or meet
contractual obligations it is called credit risk. It’s also mean that the principal and interest
may not receive by lenders hence cash flow will be interrupted (Investopedia, 2019).
Transport Risk: often in an international business goods are transported to one place
to another, one country to another. Company’s use air cargo, merchant vessels or
truck for transportation. Risk associated with transportation is called transport risk. Market
Risk: It is the probability of an investor experiencing losses because of the total
performance of the financial markets. It is also called systematic risk. Changes in the
interest rates, political turbulence, recessions, natural disaster or terrorist attack are the
main sources of market risk. Cultural Risk: When a company suffers from different
language, customs, norms and customer preference, these leads to a potential cultural risk
(Open Textbooks for Hong Kong, 2019).

Negotiation Analysis

"Negotiation analysis" seeks to develop prescriptive theory and useful advice for negotiators
and third parties. It generally emphasizes the parties' underlying interests (as distinct from
the issues on the table and the positions taken), alternatives to negotiated agreement,
approaches to productively manage the inherent tension between competitive actions to
"claim" value individually and cooperative.

"Negotiation analysis" seeks to develop prescriptive theoiy and useful advice for
negotiators. and third parties. It generally emphasizes the parties' underlying interests (as
distinct from the. issues on the table and the positions taken), alternatives to negotiated
agreement, approaches to

What Are Data Analytics?

Data analytics is the science of analyzing raw data to make conclusions about that
information. Many of the techniques and processes of data analytics have been automated
into mechanical processes and algorithms that work over raw data for human consumption.

KEY TAKEAWAYS
Data analytics is the science of analyzing raw data to make conclusions about that
information.
Data analytics help a business optimize its performance, perform more efficiently, maximize
profit, or make more strategically-guided decisions.
The techniques and processes of data analytics have been automated into mechanical
processes and algorithms that work over raw data for human consumption.
Various approaches to data analytics include looking at what happened (descriptive
analytics), why something happened (diagnostic analytics), what is going to happen
(predictive analytics), or what should be done next (prescriptive analytics).
Data analytics relies on a variety of software tools ranging from spreadsheets, data
visualization, and reporting tools, data mining programs, or open-source languages for the
greatest data manipulation.

SQL
SQL is a database computer language designed for the retrieval and management of data in
a relational database. SQL stands for Structured Query Language
SQL is Structured Query Language, which is a computer language for storing, manipulating
and retrieving data stored in a relational database.

SQL is the standard language for Relational Database System. All the Relational Database
Management Systems (RDMS) like MySQL, MS Access, Oracle, Sybase, Informix, Postgres
and SQL Server use SQL as their standard database language.

Applications of SQL

As mentioned before, SQL is one of the most widely used query language over the
databases. I'm going to list few of them here:

• Allows users to access data in the relational database management systems.

• Allows users to describe the data.
• Allows users to define the data in a database and manipulate that data.
• Allows to embed within other languages using SQL modules, libraries & pre-
compilers.
• Allows users to create and drop databases and tables.
• Allows users to create view, stored procedure, functions in a database.
• Allows users to set permissions on tables, procedures and views.
SQL (pronounced "ess-que-el") stands for Structured Query Language. SQL is used to
communicate with a database. According to ANSI (American National Standards Institute), it
is the standard language for relational database management systems.
SQL statements are used to perform tasks such as update data on a database, or retrieve
data from a database. Some common relational database management systems that use
SQL are: Oracle, Sybase, Microsoft SQL Server, Microsoft Access, Ingres, etc.

Although most database systems use SQL, most of them also have their own additional
proprietary extensions that are usually only used on their system. However, the standard
SQL commands such as "Select", "Insert", "Update", "Delete", "Create", and "Drop" can be
used to accomplish almost everything that one needs to do with a database.

Python
Python is a computer programming language often used to build websites and software,
automate tasks, and conduct data analysis. Python is a general-purpose language, meaning
it can be used to create a variety of different programs and isn't specialized for any specific
problems. This versatility, along with its beginner-friendliness, has made it one of the most-
used programming languages today.
Python is commonly used for developing websites and software, task automation, data
analysis, and data visualization. Since it’s relatively easy to learn, Python has been adopted
by many non-programmers such as accountants and scientists, for a variety of everyday
tasks, like organizing finances.